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Padden leaves News Corp.
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May 2, 1997: 8:39 a.m. ET
Executive leading satellite TV venture quits after clashes with EchoStar head
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NEW YORK (CNNfn) - News Corp. Chairman Rupert Murdoch said he will continue with his plans to build a U.S. satellite business despite the resignation of a top executive.
Preston Padden, head of News Corp.'s ASkyB satellite television business, announced Thursday he was leaving, published reports said Friday.
Murdoch expressed surprise at the departure of Padden, who had spearheaded the partnership with EchoStar two months ago. Padden reportedly had clashed often with EchoStar Chairman Charlie Ergen.
The resignation came two days after News Corp. and EchoStar Communications Corp. said their joint satellite venture would be delayed. The companies have struggled with technical and financial details of their partnership agreement.
In announcing its delay of an antitrust filing with federal regulators, which would have been a sign of progress for investors, EchoStar said "there can be no assurance that News Corp. will proceed with an investment in EchoStar."
News Corp. has already sunk $1.7 billion into the venture in the hopes of offering a national satellite service to compete with the cable television industry.
The ambitious plan to provide 500 channels of digital television met with immediate protest from cable operators, broadcast networks and some legislators.
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News Corp.
EchoStar
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